Minister: Govt initiatives driving economic growth, strengthening ringgit

The country's economy continues to grow steadily, supported by the strengthening of the ringgit in the foreign exchange market, said Finance Minister II Amir Hamzah Azizan.

He said numerous initiatives under the Madani economic framework have delivered positive results, enhancing investor confidence.

"We have seen a surge in investment, the economy is expanding and investor optimism towards Malaysia is strong, all of which have contributed to the ringgit's strengthening.

"The country's (gross domestic product) grew by 4.2 percent in the first quarter of this year, followed by 5.9 percent in the second quarter," he told reporters after visiting Pulau Tuba, which has been selected for the Madani village adoption initiative.

Inflation, unemployment down

He further highlighted that declining inflation and an unemployment rate of 3.3 percent also indicate robust economic progress.

Commenting on the Budget 2025, Amir Hamzah emphasised that the government will continue prioritising efforts to improve living standards and drive national development through various Madani economic programmes.

"The government is committed to narrowing the social gap and delivering greater benefits to the people," he added.

Pulau Tuba is one of three Madani adopted villages under the Finance Ministry, alongside Kampung Batu 13 in Terengganu and Rumah Panjang - Rumah Entebang Anak Melayang Nanga Belaie, Skrang, in Sarawak.

The Madani village adoption initiative, introduced under the Budget 2024, seeks to expedite the implementation of small projects in rural areas and bridge the gap in basic infrastructure between villages and cities.

- Bernama

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